Travellers International posts P4B in nine-month net profit

Travellers International Hotel Group Inc. grew its net profit in the first nine months of the year by 12 percent to P4.01 billion from P3.57 billion a year earlier, the company disclosed to the Philippine Stock Exchange on Monday.

 

The owner and operator of Resorts World Manila booked P8 billion in total gross revenues in the third quarter.

 

Gaming revenues contributed P7.2 billion of gross revenues while hotel, food and beverage, and other revenues contributed P772.3 million. 

 

Earnings before interest, taxes, depreciation, and amortization in the third quarter stood at P2.8 billion, 41.6 percent higher than P2 billion booked a year earlier.

 

An EBITDA of P7.48 million was registered in the nine-month period, a 15.1-percent increase from P6.5 million year-on-year.

 

The company said Marriott Hotel Manila Grand Ballroom will be operational by March next year and Marriott  West Wing by 2016.

 

Hilton Manila, Sheraton Hotel Manila, and the extension of Maxim Hotel, on the other hand, will be completed by 2017. – Kathryn Mae P. Tubadeza/VS, GMA News